EURZAR trade ideas
long to the upside to test the topin correction on lower timeframes but on daily its going to the upside
EURZAR Elliott Wave 5th waveEURZAR has been rising lately with the rand taking a hit against the Euro, we currently on our final wave.
Im looking to capitalise on this last impulse, entries will be made on the break of the resistance level we currently approaching.
Take profits slightly below the 100 fib level as our Target Price could most definitely shoot through that level looking to reach the 161.8 fib
extension.
€/ZARPossible Bullish Butterfly formation. I think price action should at least retest point C or exceed it, but we have to monitor for its turning point.
EURZAR Buy IdeaEURZAR Buy Idea @Weekly Demand Zone (14.4514 - 14.7881)
Buy Limit: 14.8119
Stop Loss: 14.3426
Take Profit: 16.0701
EUR/ZAR: More weakness expectedNear term pressure in the Euro is visible across the board, even versus relatively weak secondary market crosses such as ZAR. A continuation of the down trend towards the weekly support zone at ~13.87 is expected. Clearing this area means the completion of a huge triangle pattern. Declines towards 12.6440 and roughly 11.61 then come into focus.
We are already extensively short versus the Euro but see enough potential (and limited risk) to enter short in EUR/ZAR as well.
Primary trend: negative
Outlook: pressure mounting, more weakness expected
Strategy: hold-short / short-entry
Support: 13.87 / 12.6440 / 11.61-
Resistance: 14.65 / 14.7850
Outlook cancelled/neutralized above 14.65
EURZAR - break lower Trade what we see:
EURZAR on the higher time frame trading on a bullish trend line (support).
On the 4hr chart, we see a clean break with a lot of sellers entering the market.
We saw an exhaustion phase and the buyers successfully re-tested the same trend line which has now turned into resistance.
This new trade is joining the next wave of sellers entering the market.
EURZAR Doble techoEURZAR formo un doble techo y rompio la linea de tendencia alcista. haciendo un pullback y regresando arriba del valor de salida del cuello del doble techo. Esperemos que rompa el valor del cuello entre en venta hasta llegar al valor de 14.6263 como TP
EURZAR: Trend ReversalWe saw a strong move up on friday. Overall ths trend shifted not to long ago so getting in on this trend is very interesting from a Risk-Reward perspective. I want to see if price breaks the the 4 hour inner trend resistance before going long. a second and even better entry would be aroun the support trendline on the Daily chart. I'm looking to go long on this one one way pr the other :)
USDZAR Trend line brokenUSDZAR has broken a trendline on the daily chart and the price has re-tested the trendline.
Eur/ZarI am positive on a sell on this right now. I previously posted the buy that you would be up. But the way it broke out of the trend line and made that reversal pattern I love to see it is coming down right now. It is possible that this is just a wave retracement and 38% is all we get but it is over extended on daily, so it could also have trapped buys and be driving back down to even break the low possibly or just do a deeper retrace. Regardless, that was a sell setup, that is a reversal pattern. It is in a messy combo pattern and is a choppy pair so You are on your own. And when I look at the Candlestick patterns on EurZar and UsdZar it makes me think we will get that sell on EU off my fork and .786 fib where the cypher pattern will be if I remember correctly.
EURZAR retrace SHORTSame as USDZAR, retrace for this week, the dominant bull trend that has started will continue.
EURZAR Long setup - many more to come :)as above - get ready for long - price alert in place (just closed profitable trade on this top, getting ready for round number 2 (many more to come)
I will post in a sec why there is many more setups
Eur/ZarEur/Zar has been going down, however, several ways I look at this, it seems like it is going up. Either in a 3 wave to maybe break the high, It could make a large flat, but possibly already completed an expanded correction and we get a larger 5 wave that retraces that long move. The buy entry setup was earlier when I was asleep on 4 hr and we would have stop in profit, so riskier at this height, but I would also like to point out that if EU is going to pull down which it looks like it may, Usd/Zar may be more beneficial. I will post that in a minute. I am up on that one.
Possible head and shoulder patternsince last quarter of 2017 the bulls have been pushing the price down.
